State-of-the-art facility will headquarter research efforts in Boston and New York to accelerate the development of RNA and DNA-based medicines
This week, New England Council member Lilly announced the launch of its Lilly Institute for Genetic Medicine. Lilly intends for the Institute to enhance the company’s development of genetic medicines in a way that is “fundamentally different” than what is available today, according to Andrew C. Adams, Vice President of Genetic Medicine at Lilly and Co-Director of the Institute.
In addition to the launch, Lilly has announced an investment of approximately $700 million intended for the company to establish a state-of-the-art facility at a new site in the Boston Seaport. With this investment, Lilly plans to advance RNA-based therapeutics and build on its acquisition and expansion of Prevail Therapeutics, a gene therapy pioneer based in New York City. Together, these companies hope to develop therapies that have the potential to “treat or prevent diseases in a manner that is challenging or not possible with traditional medicines,” according to a press release by Lilly.
When speaking on the company’s goals for the Institute, Vice President Adams stated that he anticipates the launch will allow Lilly to “pair cutting-edge technologies” with “its deep biological expertise in several areas,” and develop medicines that “target the root cause of diseases.”
The New England Council congratulates Lilly on its launch of the Lily Institute for Genetic Medicine and looks forward to how the Institute will transform the development of genetic medicines.
Read more about the launch here.